K-1 SUMMARY FOR 1120S & 1065 RETURNS

[joegcpa]

Proconnect should have a schedule summarizing all the K-1 lines items for all shareholders in form 1120S and all partners in 1065. This is especially helpful when reviewing a tax return prepared by someone else. The only way to review each shareholder's or partner's K-1 information is to go to each K-1 individually. I envision the schedule having each shareholder or partner accross the top of the screen and each K-1 line item along the side. Ultratax has this so should Proconnect. You have a good program, make it better!

[joegcpa]

When will Intuit finally create a K-1 summary for its 1120S and 1065 tax returns? I requested this a year ago and still nothing has been done.

Having a K-1 summary makes the process of reviewing tax returns with multiple shareholders and partners so much easier. To review the K-1s, currently I have to go to each individual K-1 recipient's form to see the diffent components for federal and state returns! Doing this when you have multiple K-1 recipeints takes time. Imagine how quickly the reviewer could review the K-1 data for all owners if everything was one page! Ultratax has this, why can't Proconnect create this?